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the solution is tax reform that broadens the tax base by scaling back tax preferences and cutting the corporate rate. we could cut it to 25%, scale back the deductions, the credits, the exemptions and have a competitive territorial system and have it all be revenue neutral. there is such a proposal that has been scored by the joint committee on taxation here in congress. we know we can do it. we're not saying it's easy. some of these preferences of course on these loopholes are ones that are very difficult to reduce or eliminate, but it would be the right thing to do for our economy. i do think we have seen some signs of developing bipartisan consensus on this issue, and i'm hopeful that we will see the same movement for pro growth individual tax reform because reforming the entire code is critical to regaining competitiveness, spurring growth and producing the revenues we need to pay for important public priorities. the smart way to raise revenue then is not through tax rate hikes that threaten to shrink our economy but rather thoughts u tax reform designed to help grow the economy.
the solution is tax reform that broadens the tax base by scaling back tax preferences and cutting the corporate rate. we could cut it to 25%, scale back the deductions, the credits, the exemptions and have a competitive territorial system and have it all be revenue neutral. there is such a proposal that has been scored by the joint committee on taxation here in congress. we know we can do it. we're not saying it's easy. some of these preferences of course on these loopholes are ones that are...
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Nov 30, 2012
11/12
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at 8:00 a.m., a guest from politico examines a key tax credits aimed at families and businesses that would be impacted if congress doesn't act in the so-called fiscal quest. "washington journal" is live at starting at 7:00 a.m. eastern on c-span. >> at the end of world war ii, we had 12 million men under arms. we had 2000 flag officers and generals. today we have 1000 officers and generals and 1.2 million under arms. the ratio is totally out of line. we all must now have an admiral for every ship in the navy. not a captain, an admiral. so what we have done is go through and look at areas where we could not necessarily save all the money but we could transfer responsibilities out of the pentagon and consolidate programs and save us a significant and that of money. >> you can talk with oklahoma senator tom coburn about the fiscal cliff, affordable care act, and the future of the republican party on book tv. the senator has written several books including his latest "the debt bomb." join our conversation with your calls, e-mails, tweets, and comments with medical doctor and senator tom
at 8:00 a.m., a guest from politico examines a key tax credits aimed at families and businesses that would be impacted if congress doesn't act in the so-called fiscal quest. "washington journal" is live at starting at 7:00 a.m. eastern on c-span. >> at the end of world war ii, we had 12 million men under arms. we had 2000 flag officers and generals. today we have 1000 officers and generals and 1.2 million under arms. the ratio is totally out of line. we all must now have an...
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Nov 29, 2012
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if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this cliff in the back half of 13, gdp growth rate accelerates as we anticipate and profit growth as well. tracy: if your liking big multinationals, you don't like europe yet you like the multinationals. help me wrap my mind around that. >> u.s. large caps are cheap, most of those in mall to nationals. but they don't deserve to be cheap. it is going to be a while before you get any sustained growth. you can't make that case the multinationals. it is relatively speaking a small part. the big part of the global exposure is the emerging markets. tracy: you obviously are very bullish equity sky. you have to be
if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this...
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Nov 29, 2012
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remember all those concerns about higher taxes on dividend? the dow utilities bottomed several weeks ago. okay, it is not a gigantic move but the slope has been upward. utilities are among market leaders today. all right, fractional but it is a fairly broad advance. what about those concerns about the mortgage interest desucduct? nice little advance in some of the home builders. pending home sales above expectations. the market believes some kind of deal is coming and that it is going to be substantive. if it doesn't happen, then we're all going to pay the price in the next month or so. >> a lot of prices to be paid. >>> as the market is clearly blowing in the breeze with every single comment from both sides of the political aisle, we wonder whether or not these comments are anything more than just hot air. eamon javers, what say you? >> well, there's a lot of hot air up here on capitol hill, mandy. i just had the chance -- not that he was talking about hot air, but i just spoke briefly with former republican vice presidential candidate paul r
remember all those concerns about higher taxes on dividend? the dow utilities bottomed several weeks ago. okay, it is not a gigantic move but the slope has been upward. utilities are among market leaders today. all right, fractional but it is a fairly broad advance. what about those concerns about the mortgage interest desucduct? nice little advance in some of the home builders. pending home sales above expectations. the market believes some kind of deal is coming and that it is going to be...
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Nov 29, 2012
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far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they hel
far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging...
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Nov 29, 2012
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last year the payroll tax cut, that got extended, scott, on december 23rd. this is going to go right down to december 21st in avoiding the fiscal cliff. don't think anything differently. >> today one of the streets most bullish market watchers is is making a pretty bold prediction saying the s&p 500 is going to rally 17% by the end of next year. tony dwire joins us now. good to have you. >> thanks. >> i'm wondering how you're dealing with your predictions and your forecasting on the markets when you have such gyrations due to what's going on with the fiscal cliff. >> well, truthfully, you know, hopefully what makes me a little bit different on the street, i really try not to guess. what they're going to say, it's impossible. what i fall back to is what's the tactical outlook? we had a nice 5% move off of that low. our view is you've always retested that kind of intermediate term low. we're looking for a little pullback. ultima ultimately, don't fight the fed and don't fight the tape. when i talk to people, you kind of think about it. why isn't it follow the
last year the payroll tax cut, that got extended, scott, on december 23rd. this is going to go right down to december 21st in avoiding the fiscal cliff. don't think anything differently. >> today one of the streets most bullish market watchers is is making a pretty bold prediction saying the s&p 500 is going to rally 17% by the end of next year. tony dwire joins us now. good to have you. >> thanks. >> i'm wondering how you're dealing with your predictions and your...
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Nov 29, 2012
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moreover, as part of the middle-class tax relief act of 2012, congress expanded the scope of funding from the relocation fund to include the costs of planning for relocation. i am confident that the pentagon and the larger federal government can more efficiently manage its spectrum holdings and make available additional spectrum to create jobs. i hope we can work this out and have it included as part of the defense authorization bill. i certainly believe it's an amendment that's important with regard to the issue that i mentioned and that is the reallocation, relocation of spectrum in this country to allow for multiple uses, obviously important private and commercial uses out there and enormous demand, that demand is is adding significantly to our economy and creating jobs for literally thousands and millions of americans. madam president, with that i yield the floor. the presiding officer: the clerk will call the roll. the presiding officer: the clerk will call the roll. quorum call: the presiding officer: the senator from michigan. mr. levin: i ask further proceedings on the quorum
moreover, as part of the middle-class tax relief act of 2012, congress expanded the scope of funding from the relocation fund to include the costs of planning for relocation. i am confident that the pentagon and the larger federal government can more efficiently manage its spectrum holdings and make available additional spectrum to create jobs. i hope we can work this out and have it included as part of the defense authorization bill. i certainly believe it's an amendment that's important with...
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Nov 29, 2012
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house speaker john major is adamant that any new tax bracket is coming from overhauling the tax code and clearing out tax breaks and lower rates for everyone. it is 9:06 a.m. and we'll be back in a couple of minutes. let's take a live look at bernal heights. this big tree came down and we'll have more on that in a couple of minutes. among take a look at some of this damage from the wind and rain and san francisco's berle heights neighborhood. yoli is on the scene. what street is this on? >> i believe this is virginia street. it is virginia street. i'm just getting confirmation. this jury blancs to this city and it is on the sidewalk here. according to a neighbor they heard a fall around 4:00 a.m.. it was one of those things that history was bound to fall they just did not know when. i guess it is needed a big storm to push it over. i have the honor of the house on which this tree fell on her name is pat and what a surprise this morning,? >> absolutely. the rise is on that side of apple around here that have up to work and came round the corner to see this this morning. i did not hear
house speaker john major is adamant that any new tax bracket is coming from overhauling the tax code and clearing out tax breaks and lower rates for everyone. it is 9:06 a.m. and we'll be back in a couple of minutes. let's take a live look at bernal heights. this big tree came down and we'll have more on that in a couple of minutes. among take a look at some of this damage from the wind and rain and san francisco's berle heights neighborhood. yoli is on the scene. what street is this on?...
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Nov 29, 2012
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so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for secretary of state. susan collins says she will not back rice for the job, until more questions on the attack on the u.s. consulate in libya are answered. collins said if president obama nominates senator john kerry instead, he would have no trouble winning confirmation. >>> and breaking news out of new york. lindsay lohan has been arrested again, after a fight at a night
so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration...
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Nov 29, 2012
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host: when you say tax provisions, increased taxes? guest: yes. some of the tax increases on higher income people. there's a new tax on -- new tax limitations on people with high incomes that go into effect in 2013. sort of in anticipation of 2014. to bank some of the money, if you will, that will pay for some of the things like these subsidies people will be getting when they go to these exchanges that start in 2014. host: republicans in congress, are they still pushing for a repeal or altering the a.c.a.? >> repeal, not so much. i think we saw right after the election, saw a number of republicans who were acknowledging, yes, it was, if you will, a referendum on the a.c.a. it is here to stay. it is the law of the land. probably not so many out and out repeal votes. that doesn't mean there still won't be efforts to change it. as i mentioned i think you'll see some of those in these -- fiscal cliff talks that you might see. there's a lot of elements to this law that are controversial. >> today's "washington journal," available any time in our video
host: when you say tax provisions, increased taxes? guest: yes. some of the tax increases on higher income people. there's a new tax on -- new tax limitations on people with high incomes that go into effect in 2013. sort of in anticipation of 2014. to bank some of the money, if you will, that will pay for some of the things like these subsidies people will be getting when they go to these exchanges that start in 2014. host: republicans in congress, are they still pushing for a repeal or...
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Nov 29, 2012
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this would be a good tax refund. i the clock is ticking and we have 33 days until the clift. we love numbers. if we can do it countdown will do with the this is the latest. >> hopefully they can get a deal done. >> lindsay lohan was arrested a gang for fighting. here she is she was released from jail this morning. she has a black jacket covering her head and apparently she identify with that woman as she hitter in the face. this was at a nightclub overnight. the witnesses stated that she struck are in the face with a hand. she did not require medical condition lohan has another arrest under her belt. she is charged with third degree assault. >> 6:53 a.m. and will be right back. it is strauss' size of this is good news compared to yesterday. enjoy your ride to work or school and will be right back. line towards are rust is in trouble. they're having problems fulfilling torrid orders. many customers who place orders stated that they're receiving e-mail sector orders have been canceled. numerous customers posted their stories on torahs are russ facebook page. they stated that cu
this would be a good tax refund. i the clock is ticking and we have 33 days until the clift. we love numbers. if we can do it countdown will do with the this is the latest. >> hopefully they can get a deal done. >> lindsay lohan was arrested a gang for fighting. here she is she was released from jail this morning. she has a black jacket covering her head and apparently she identify with that woman as she hitter in the face. this was at a nightclub overnight. the witnesses stated...
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Nov 29, 2012
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so if we raise everyone's taxes, it'll be a $2 trillion tax increase. well, if we raise it only on the rich which the president wants to do and the democrats, that's 40% of the nation's income. so it'll be a $900 billion tax increase. it isn't about who the tax increase is on. that's simply envy and class warfare. it's about how much money you're going to take out of the private sector. $900 billion taken from the private sector is an enormous drain and will hurt economic growth. doesn't matter whether it's rich people, middle class or poor people. it's money taken out of the productive sector, the private sector, and given to the nonproductive sector, the government. >> finally, we started the conversation talking about the pledge. when senator graham does, though, indicate his commitment is softening, do you have words with him later on? does he get scolded behind the scenes? >> i don't do any scolding. it's not my job to tell other senators or congressman how to vote or what to think. i try to communicate what i think is the message of our party. the
so if we raise everyone's taxes, it'll be a $2 trillion tax increase. well, if we raise it only on the rich which the president wants to do and the democrats, that's 40% of the nation's income. so it'll be a $900 billion tax increase. it isn't about who the tax increase is on. that's simply envy and class warfare. it's about how much money you're going to take out of the private sector. $900 billion taken from the private sector is an enormous drain and will hurt economic growth. doesn't matter...
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Nov 29, 2012
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he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> the president had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near
he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans....
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Nov 29, 2012
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tax and spend, not taxes to reduce deficits. taxes to fund new spending. that's why the budget, it puts us on track to have $25 trillion in total debt at the end of ten years, another almost $10 trillion in debt headed to the current debt level. so insofar as i can see, that tax-and-spend policy remains his goal today. the white house isn't planning to raise taxes to reduce the deficit, raise taxes under their plan to expand government. and that's not -- i don't believe congress will accept such a deal if that's what's going on in the secret negotiations. president obama campaigned on tax increases just on the wealthy, just on raising their rates, just only $800 billion in tax increases. but now the white house is demanding $1.6 trillion in tax increases. don't the american people have a right to see where those taxes fall, who this will impact and how much they are? shouldn't the president lay out his plan? the president of the united states, the only person who represents everybody in the country, will that remain a secret? will it just be revealed to us
tax and spend, not taxes to reduce deficits. taxes to fund new spending. that's why the budget, it puts us on track to have $25 trillion in total debt at the end of ten years, another almost $10 trillion in debt headed to the current debt level. so insofar as i can see, that tax-and-spend policy remains his goal today. the white house isn't planning to raise taxes to reduce the deficit, raise taxes under their plan to expand government. and that's not -- i don't believe congress will accept...
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Nov 29, 2012
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then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part of a continuing series on "washington journal" focusing on a fiscal cliff. our conversation has broadened. to bring it back to the payroll tax cut and remind you it was enacted in december of 2010, designed to temporarily boost the economy and reduce the tax to% from 6.2% to 4.2% and increased take-home pay about an average of $1,000 to $1,800 per worker. it expires at the end of the year, rates will revert back to 6.2%. if you make $35,000 or so, that will be an extra $700 in taxes. the $2,000, an extra thousand dollars. 75,000, $1,500. finally, $110,000, the upper limit
then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part...
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tax cut by reenacting the current tax rates for 98% of americans. that kind of logic only makes sense in washington. in my view, we ought to come to some responsible bipartisan broad agreement now and save all of the chaos and save all of the press coverage of the next five weeks. but we may well not get there. it is better for us to go over the cliff than for the democrats to again agree to a deal in which entitlements get slashed and vital supports for low income seniors, for the disabled, for children who are vulnerable in medicaid get taken away. so that's the bigger dynamic. >> bill: amen to that. i'm going to ask you for 30 seconds, we're right up against the clock. you mentioned this word so i have to ask you. will we get filibuster reform? >> i'm optimistic. we've had some very serious conversations in caucus about it. leader reid has fundamentally changed his view from two years ago when we discussed it before. the proposals that the democrats have put on the table for rules reform are modest and responsible. it is essentially this. if you'
tax cut by reenacting the current tax rates for 98% of americans. that kind of logic only makes sense in washington. in my view, we ought to come to some responsible bipartisan broad agreement now and save all of the chaos and save all of the press coverage of the next five weeks. but we may well not get there. it is better for us to go over the cliff than for the democrats to again agree to a deal in which entitlements get slashed and vital supports for low income seniors, for the disabled,...
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Nov 29, 2012
11/12
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the president's idea is raising taxes on income over a quarter million dollars but keeping the bush tax cuts for everybody else. that idea is very popular. 60% support. it is a very popular plan that the president is trying to drum up even more support for now with these campaign style trips. now, on the other side, what the republicans want to do, their plan is to limit deductions, limit tax deductions. that's their plan instead. that, in contrast to the president's proposal, is not popular. more people oppose that idea than support that idea. even republicans hate the republican idea. look at 39% of republicans support the republican proposal. that's before you get to the other part of the republican proposal, something being floated by republican senator bob corker of tennessee, an idea we should raise the eligibility age for medicare. that is a wildly unpopular idea. more people oppose than support that idea by a 37% margin. it is more unpopular among republicans than the general public. republicans have not convinced their own voters let alone the rest of the country. they have not
the president's idea is raising taxes on income over a quarter million dollars but keeping the bush tax cuts for everybody else. that idea is very popular. 60% support. it is a very popular plan that the president is trying to drum up even more support for now with these campaign style trips. now, on the other side, what the republicans want to do, their plan is to limit deductions, limit tax deductions. that's their plan instead. that, in contrast to the president's proposal, is not popular....
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Nov 29, 2012
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including middle class tax cuts and his ambassador to the united nations. she is thought to be on the short list to succeed hillary clinton as secretary of state. >> couldn't be prouder of the job that she's done. [ applause ] rice failed to win the support of two more republican senators today. many republicans have criticized her for her initial account of the benghazi consulate attack, which did not label it as a terrorist attack. >>> to be a fly on the wall at the white house tomorrow. president obama will be having mitt romney over for lunch. during his victory speech, the president said he would reach out to romney and consider some of his ideas talked about during the campaign. no media coverage is expected. >>> the president of mexico has a new job lined up after his john ends in february. he will become a fellow at the. >>> a big jackpot on the line. what we are just hearing from powerball officials about where winning tickets were sold. plus the demand in one city that's driving parking prices close to $100,000. >>> back here in just about ten min
including middle class tax cuts and his ambassador to the united nations. she is thought to be on the short list to succeed hillary clinton as secretary of state. >> couldn't be prouder of the job that she's done. [ applause ] rice failed to win the support of two more republican senators today. many republicans have criticized her for her initial account of the benghazi consulate attack, which did not label it as a terrorist attack. >>> to be a fly on the wall at the white house...
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Nov 29, 2012
11/12
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KTVU
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including middle class tax cuts and his ambassador to the united nations. she is thought to be on the short list to succeed hillary clinton as secretary of state. >> couldn't be prouder of the job that she's done. [ applause ] rice failed to win the support of two more republican senators today. many republicans have criticized her for her initial account of the benghazi consulate attack, which did not label it as a terrorist attack. >>> to be a fly on the wall at the white house tomorrow. president obama will be having mitt romney over for lunch. during his victory speech, the president said he would reach out to romney and consider some of his ideas talked about during the campaign. no media coverage is expected. >>> the president of mexico has a new job lined up after his john ends in february. he will become a fellow at the. >>> a big jackpot on the line. what we are just hearing from powerball officials about where winning tickets were sold. plus the demand in one city that's driving parking prices close to $100,000. >>> back here in just about ten min
including middle class tax cuts and his ambassador to the united nations. she is thought to be on the short list to succeed hillary clinton as secretary of state. >> couldn't be prouder of the job that she's done. [ applause ] rice failed to win the support of two more republican senators today. many republicans have criticized her for her initial account of the benghazi consulate attack, which did not label it as a terrorist attack. >>> to be a fly on the wall at the white house...
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taxes concern small business owners who met with the president yesterday. one of them runs an organic mushroom company. he told us that higher taxes will kill his business. >> we are most passionate about, a business like ours, if people are going to be taxed a couple more thousand dollars, that will affect us, as well. >> he admits his small business has benefited from programs he and friend started it three years and now they have 31 employees. >>> for the first time since the election, president obama will meet privately with the man he beat in the race for president, mitt romney. they will talk tomorrow about ideas reviving the economy. president obama said that he would reach out to mitt romney and hold that private meeting after the election. today the president met with yahoo ceo marissa myer. she is trying to avoid the fiscal cliff. and she told a reporter, quote the baby has been way easier than everybody made it out to be. 37-year-old added she had an easy pregnancy and two-year-old son has been easy. she is very clear on her priorities, god, fami
taxes concern small business owners who met with the president yesterday. one of them runs an organic mushroom company. he told us that higher taxes will kill his business. >> we are most passionate about, a business like ours, if people are going to be taxed a couple more thousand dollars, that will affect us, as well. >> he admits his small business has benefited from programs he and friend started it three years and now they have 31 employees. >>> for the first time...
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taxes will go upgv[; $2200 come january 1 ask both parties say they're open to compromise. the president says social media gets the message across. >> members of congress, write ask e mail. posted on the facebook walls. you can tweet it. using hash tag my 2 k. not y 2 k. my 2 k. >> one of the small business owners yesterday is the co-founder of oakland organic mushroom company called back to the roots. >> in washington, d.c. there is going to be-to-have to be things that are cut to provide stories for them to take back as proof. why this is important for small businesses to be the last things cut. they're the fabric of the country and economy. so want to stress that to them. how important this has been for us and others too. >> he admits the small business benefited from incentive programs. now they have 31 employees. >> new jersey governor says super storm sandy caused $37 billion in damage to his state saying 30,000 homes or businesses were destroyed or sustained damage. he's requesting $37 billion from the federal government. >> and a new un climate change report out say
taxes will go upgv[; $2200 come january 1 ask both parties say they're open to compromise. the president says social media gets the message across. >> members of congress, write ask e mail. posted on the facebook walls. you can tweet it. using hash tag my 2 k. not y 2 k. my 2 k. >> one of the small business owners yesterday is the co-founder of oakland organic mushroom company called back to the roots. >> in washington, d.c. there is going to be-to-have to be things that are...
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we don't want to raise taxes on anybody. so i think the best thing to do is to take that issue off the table early. >> reporter: but speaker boehner quickly shot down the idea. >> i told tom earlier in our conference meeting that i disagreed with him. >> reporter: speaker boehner's aides described the talks with the white house today as business-like. they say they're in communication all the time. and that the fact that speaker boehner himself isn't sitting down with the president shouldn't be taken as a sign that talks aren't progress, scott. >> pelley: time is running, thanks, nancy. we've been get a lot of encouraging news about the economy lately and we got more today. in its most recent survey, the federal reserve found that consumer spending and economic growth are up in all regions of the country except those affected by hurricane sandy. moving on now to syria's civil war. at least 34 people were killed today when two car bombs ripped through a suburb of damascus. syria's assad dictatorship has been trying to crush a
we don't want to raise taxes on anybody. so i think the best thing to do is to take that issue off the table early. >> reporter: but speaker boehner quickly shot down the idea. >> i told tom earlier in our conference meeting that i disagreed with him. >> reporter: speaker boehner's aides described the talks with the white house today as business-like. they say they're in communication all the time. and that the fact that speaker boehner himself isn't sitting down with the...
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, about who is going to pay what in taxes. but what has been so underreported and overlooked, which is why i'm so grateful to you for calling this out today for us, is the impact that sequestration cuts would have on our economy, but especially on that vital element of our economy which is our most vulnerable in our society, our children. they're our future. they are not just statistics, they are real people, little people who cannot wait for services because their bodies will change, their minds will be stunted, they will lose out if we -- if we withhold support for them. and i speak from my many years of being a nurse, as you described, and being a nurse in our public sector in our public schools and a public health nurse and i've seen firsthand what happens when we cut services to our children. we need to be investing in our children because they are our economic engine for tomorrow, and we cannot afford to leave one of them behind. we therefore cannot afford to slash the programs, the very programs that will give them the
, about who is going to pay what in taxes. but what has been so underreported and overlooked, which is why i'm so grateful to you for calling this out today for us, is the impact that sequestration cuts would have on our economy, but especially on that vital element of our economy which is our most vulnerable in our society, our children. they're our future. they are not just statistics, they are real people, little people who cannot wait for services because their bodies will change, their...
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tax cuts. fiscal cliffs. >> that's 5-month-old mace john jackson and tax hikes and now the president and dan lothian from the white house, how is the president handling this? he's probably not doing as much laughing. >> reporter: what you saw today is the president bringing in americans. he says they will be impacted if the middle class tax cuts are not extending. they sent a message out there to republicans saying that they need to come on board and support this effort. republicans pushing back thinking that they don't think the upper income americans should see their taxes go up. what the president said to those who were here and those watching, put pressure on their lawmakers to support pushing out the bush era tax cuts for just middle class americans, not just through this effort but to text, to call, to send a fax, even twitter and the white house coming up with y2k referring to the amount of average middle class families would see their taxes go up by the white house says, $2200. so the p
tax cuts. fiscal cliffs. >> that's 5-month-old mace john jackson and tax hikes and now the president and dan lothian from the white house, how is the president handling this? he's probably not doing as much laughing. >> reporter: what you saw today is the president bringing in americans. he says they will be impacted if the middle class tax cuts are not extending. they sent a message out there to republicans saying that they need to come on board and support this effort. republicans...
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their fair share of taxes. we're losing $100 billion a year because corporations and the wealthy are stark their money in the cayman -- are stashing their money in the cayman islands and other havens. defense spending tripled since 1997. we're now spending almost as much as the rest of the world combined. let's take a serious look at defense spending. madam president, you do that, and you make some efficiencies in medicare and medicaid. make them more efficient. not cut benefits. you can move towards serious deficit reduction without cutting social security, without cutting medicare, without cutting medicaid. we just had an election a few years ago -- a few weeks ago. november 6. and what the american people, ii think, said is the time is now for the wealthy to start paying their fair share of taxes. we have seen poll after poll after poll including from some very conservative people who are saying do not cut social security, medicare and medicaid. i think it is time for the united states senate and the congres
their fair share of taxes. we're losing $100 billion a year because corporations and the wealthy are stark their money in the cayman -- are stashing their money in the cayman islands and other havens. defense spending tripled since 1997. we're now spending almost as much as the rest of the world combined. let's take a serious look at defense spending. madam president, you do that, and you make some efficiencies in medicare and medicaid. make them more efficient. not cut benefits. you can move...
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before taxes, after all. steve, thanks very much. >> the lottery balls are so loud. he's like in a wind tunnel talking like that. what are you guys going to do with the money? >> share it with you. >> split it. >> thank you. oh, that's so nice. thank you. i'm not sharing it with you. >> wow. >> just kidding. of course, i am. all right. i'll definitely share it with sam. >> thanks, thanks. >>> now to the battle brewing over who will be the nerks secretary of state. no final decision from president obama. the front-runner is susan rice, the u.n. ambassador. and she ran into a buzzsaw yesterday on capitol hill, when she met with republican senators critical of her nomination. take a look. >> the concerns i have today are greater than they were before. and we're not even close to getting the basic answers. >> i want to say that i'm more troubled today. >> we are significantly troubled by many of the answers. >> abc's jonathan karl is covering all this from washington. jon, on sunday, it looked like some of the senators, graham and mccain, had softened their opposition. b
before taxes, after all. steve, thanks very much. >> the lottery balls are so loud. he's like in a wind tunnel talking like that. what are you guys going to do with the money? >> share it with you. >> split it. >> thank you. oh, that's so nice. thank you. i'm not sharing it with you. >> wow. >> just kidding. of course, i am. all right. i'll definitely share it with sam. >> thanks, thanks. >>> now to the battle brewing over who will be the nerks...
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have to raise taxes. democrats don't seem to favor lowered defense budget and favor higher taxes for the rich and so we're done. i think we're done. >> after durbin speoke yesterda, if you're going to get a blueprint, he doesn't want entitlements be part of it for next year. >> it's the 1,000-point solution. maybe that will change their mind. durbin said no. norquist is saying no tax increase. what else is there? am i missing something? what am i missing? blankfe >> stallen made a lot of sense. mass murderer about you doesn't mean he didn't make sense. >> blankfein, kent, mayer, roberts of comcast. is there anything these guys can say to change their tune? to get people -- >> we're just past thanksgiving. let's give it a little time. things can change. we've seen lots of back and forth. everybody is establishing their negotiating position. there's still a negotiation to come in some way. i'll take the optimistic view. >> maybe that's where they are starting from. >> a reset button? >> we have yet to get i
have to raise taxes. democrats don't seem to favor lowered defense budget and favor higher taxes for the rich and so we're done. i think we're done. >> after durbin speoke yesterda, if you're going to get a blueprint, he doesn't want entitlements be part of it for next year. >> it's the 1,000-point solution. maybe that will change their mind. durbin said no. norquist is saying no tax increase. what else is there? am i missing something? what am i missing? blankfe >> stallen...
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in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current president martha maccallum and his power grab. they are disillusioned with what he has brought to their country. then you have this happening. police firing teargas. gypt's highest courts refusing to work in protest of morsi's actions. steve harrigan is streaming live from cairo. the protests looked like the unrest we saw in that same square back in 2009 and the arab spring and the overthrow of mubarak. how dangerous is it? is it more dangerous now? >> this certainly allows similarities between what we saw last night and
in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current...
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cut dilemma. >> every republican in congress signed a no tax pledge created by americans for tax reform chair, grover norquist. now some republicans are abandoning the anti-tax pledge as fast as they abandoned -- what's his name? i got it. don't help me. don't help me. rip flaumbe. >> we recently reported "the on june" satire newspaper named north korean leader kim jong un the sexiest man alive. apparently the joke was lost on china's communist party newspaper. they ended up running a 55-page spread of the leader congratulating him for the title. you can understand how that can be confusing, you know, his fashion sense. >> because i'm gullible? >> a little bit of everything. come on. you've got to have found with it. >> the "two and a half men" with thing, should we believe the video where he was live or the pr statement? >> i think we should believe he makes $350,000 an episode and that's enough said. >>> this is from care 11 news in minneapolis, where a wave of baby blue swept through a maternity ward for three days. delivery room doctors shouted it's a boy 19 consecutive times betwee
cut dilemma. >> every republican in congress signed a no tax pledge created by americans for tax reform chair, grover norquist. now some republicans are abandoning the anti-tax pledge as fast as they abandoned -- what's his name? i got it. don't help me. don't help me. rip flaumbe. >> we recently reported "the on june" satire newspaper named north korean leader kim jong un the sexiest man alive. apparently the joke was lost on china's communist party newspaper. they ended...
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little less than that after taxes. talking to some of those folks who are dreaming big this morning. >>> she sold 100 million records and not stopping there. dio nne warwick joins us as she celebrates 50 years in the business. "starting point" begins right now. >>> good morning. welcome, everybody "starting point" team, ron brownstein, roland martin, host of "washington watch with roland martin." why do i laugh every time you do that? >> i always do it. >> and every time i laugh. will cain is from theblaze.com. you have to come up with something else. >> i'm trying to hook you up. >> not that, please. christine romans joins us with your business. >>> susan rice returns to capitol hill this morning, little more face time with republicans. she's hoping, probably, for better outcome than she had yesterday. elise labbott joins us with details. >> ambassador rice is certainly getting a chance to sharpen her diplomatic skills. mccain, graham and ayotte yesterday said they left their meetings with ambassador rice more concern
little less than that after taxes. talking to some of those folks who are dreaming big this morning. >>> she sold 100 million records and not stopping there. dio nne warwick joins us as she celebrates 50 years in the business. "starting point" begins right now. >>> good morning. welcome, everybody "starting point" team, ron brownstein, roland martin, host of "washington watch with roland martin." why do i laugh every time you do that? >> i...
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just tax the rich more. three big unions have taken out big ad campaign saying no cuts to entitlements, don't reform them. just tax the rich more. it's a campaign all over again. and at this moment, the democrats and the president have not given one inch, to my knowledge, on any entitlement reform or entitlement cuts. >> brian: he's going to go to tinker toys, to some odd manufacturing plants. the only thing i could picture him saying is it's time to lift the bush tax rates from the rich and make them pay more. what else could he possibly be talking about? >> he's sticking it to house republicans. i won the election. i campaigned on higher tax rates for the rich. that's what we're going to do. whether he mentions entitlement reform or not, i don't know. but there is no plan on the table at the the moment for the other side of the debate, which is how it affects the spending problem. >> brian: he's also going to talk about how the going over the cliff will affect middle class families and how he's trying to a
just tax the rich more. three big unions have taken out big ad campaign saying no cuts to entitlements, don't reform them. just tax the rich more. it's a campaign all over again. and at this moment, the democrats and the president have not given one inch, to my knowledge, on any entitlement reform or entitlement cuts. >> brian: he's going to go to tinker toys, to some odd manufacturing plants. the only thing i could picture him saying is it's time to lift the bush tax rates from the rich...
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california's voted for taxes. californians voted for the same thing the president is proposing. >> bill: exactly. >> going back to the tax rates for those who earn $250,000 and above and so with those tools alone, california has the possibility of raising revenue. you know in the time that i was there, our budget was $110 billion. by the time i left, it was $83 billion. so the cuts to schools in particular have been absolutely devastating. finally, californians have taken a chance and are going to reverse that. >> bill: california voters said we're willing to raise taxes on the wealthiest and they also said if those republicans are just being obstructionists standing in the way we're going to get them out of the way. so you are hopeful that things can come together. the president today -- the white house announced yesterday the president is going to go on the road. he's going up to pennsylvania. to a toy factory small business on friday. he's going to be making trips around the country to build support for this ta
california's voted for taxes. californians voted for the same thing the president is proposing. >> bill: exactly. >> going back to the tax rates for those who earn $250,000 and above and so with those tools alone, california has the possibility of raising revenue. you know in the time that i was there, our budget was $110 billion. by the time i left, it was $83 billion. so the cuts to schools in particular have been absolutely devastating. finally, californians have taken a chance...
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would be or a sense of what -- big taxes -- what dividend taxes would be. largely because we are accountable, not to you and i but accountable to a huge number of shareholders and -- >> including unions and endowments and including a public university endowments et cetera, but i do think there is a big and legitimate argument they're making about certainly and if they got it, then i think your argument is spot-on. congress and the government is given certainty. >> get over it. get moving. >> if there was one word that defined the top companies, the top leadership you're talking about, boardrooms over the last two years, it was uncertainty. we all heard it. uncertainty. uncertainty -- well, guess what, there's going to be certainty now and that's good. >> we need demand on top of that because then they need the actual business to come back and starting to see that. if you look at what happened over the thanksgiving weekend. black friday sales were strong almost everywhere. everybody is expecting it to be a great holiday season. >> you're not good at math? >>
would be or a sense of what -- big taxes -- what dividend taxes would be. largely because we are accountable, not to you and i but accountable to a huge number of shareholders and -- >> including unions and endowments and including a public university endowments et cetera, but i do think there is a big and legitimate argument they're making about certainly and if they got it, then i think your argument is spot-on. congress and the government is given certainty. >> get over it. get...
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that's how you can raise tax revenue without raising tax rates. although technically that goes against grover norquist's pledge. >> well, we've already put a plan out in the budget committee. as you said, i am a part of that budget committee. and we put out the fundamentals of that, where we would have a plan where we would have pro-growth tax reform, and that means something fairer, flatter and simpler, and a portion of that is to look at the deductions that right now really do benefit those in the upper income, and that we're willing to look at those, and to make sure that what we do does bring in more revenue by robust economy. >> and it wouldn't be a violation of a sort of a marriage vow to grover norquist. he has said that violating his pledge is somehow akin to, you know, violating your marriage vows. you don't -- your deal is with your constituents, not with grover norquist? >> that's right. that's exactly right. >> i want to talk a little bit about the debt ceiling because this is coming into play here. grover norquist, again, has written
that's how you can raise tax revenue without raising tax rates. although technically that goes against grover norquist's pledge. >> well, we've already put a plan out in the budget committee. as you said, i am a part of that budget committee. and we put out the fundamentals of that, where we would have a plan where we would have pro-growth tax reform, and that means something fairer, flatter and simpler, and a portion of that is to look at the deductions that right now really do benefit...
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the middle class. >> the payroll tax goes up and the tax goes up for everybody including the people that make just barely enough to live on. my concern is the world. i'm sitting there imagining you're in england right now or australia or africa and you're watching the news every day. and you know that in the united states both political parties, you sort of know who they are, both know there's a problem, both know the number they need to reach, both know they have to reach an agreement, and they don't do it. what does it say about our country? we're the great role model for democracy for the republican form of government and we can't govern ourselves in the simplest damn thing of getting the numbers straight. i worry about that. >> they love their party more than they love their country. how did we get to that point? don't ask me, but, you know, the whole business of reform and money in the campaign and beat up the guy and it's not a case of who wins. it's you want to be sure somebody loses. and i say to people whether it's grover norquist or whatever, lord sake, if you can't step up to
the middle class. >> the payroll tax goes up and the tax goes up for everybody including the people that make just barely enough to live on. my concern is the world. i'm sitting there imagining you're in england right now or australia or africa and you're watching the news every day. and you know that in the united states both political parties, you sort of know who they are, both know there's a problem, both know the number they need to reach, both know they have to reach an agreement,...
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. >> the irs tax return for central asia institute filed in 2010 included a list of 140 schools that it claimed to have built or supported in pakistan and afghanistan. over a six month period, we visited or looked into nearly 30 of them. some were performing well, but roughly half were empty, built by somebody else, or not receiving support at all. some were being used to store spinach or hay for livestock. others had not received any money from mortenson's charity in years. the principal of this school told us that the institute had built six classrooms poorly several years ago and since then, not a single rupee. in afghanistan, we could find no evidence that six of the schools even existed, most of them in war-torn kunar province. >> in kunar province, it's really violent. he built three schools there in 2009. so he goes on charlie rose. he says he built 11 schools in kunar province. >> today we have 11 schools also in that district. >> why can't he just say he built three? i mean, that's impressive. you say you built 11, i go, "why are you lying about this?" >> one of the schools
. >> the irs tax return for central asia institute filed in 2010 included a list of 140 schools that it claimed to have built or supported in pakistan and afghanistan. over a six month period, we visited or looked into nearly 30 of them. some were performing well, but roughly half were empty, built by somebody else, or not receiving support at all. some were being used to store spinach or hay for livestock. others had not received any money from mortenson's charity in years. the principal...
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they're for tax changes that would save their companies over $100 billion a year. to take a hard look at the views these ceos are espousing let's bring in bill cohen bloomberg view columnist and author of "money and power" how goldman sachs came to rule the world. and lynn, let me start with you is this campaign to fix the debt just a trojan horse behind which the ceos are trying to implement? things that would be really good for them? >> i think it is. i think they were really hoping some of them that mitt romney might win the election and get some of these things done without them having to go public but now, as we just saw lloyd blankfein and others are going on a public campaign to convince americans we can't afford social safety net programs and they need a windfall and tax breaks. the spirit of giving is a little hard to find among some of them. >> eliot: bill, you have been critical of your former brethren on wall street. you've been rational. you have to admit they're not the best messengers for this right now. >> they're terrible messengers. i don't really
they're for tax changes that would save their companies over $100 billion a year. to take a hard look at the views these ceos are espousing let's bring in bill cohen bloomberg view columnist and author of "money and power" how goldman sachs came to rule the world. and lynn, let me start with you is this campaign to fix the debt just a trojan horse behind which the ceos are trying to implement? things that would be really good for them? >> i think it is. i think they were really...
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in other words, a mandate to raise taxes hutton. tonight we want to take that mandate and put it into some context and perspective. this is the president's 2012 victory. but 50 -- and this is the mandate. forty-seven. the electoral votes, 3302. mesa more room here. romney's 206. that'simpressive. but there's something missing. seven and a half people. seven and a half million voters from 2008. he received and, and all right this over here, 53 percent of the vote to mccain's 46%. a little more impressive. 365 electoral votes to 1703. wait a minute. that's quite a little difference . of falloff in the popular vote and a ar less impressive electoral victory this year. let's look at the legislative branch, th senate, the house. fifty-five for democratic senators. forty-five will be republican. 200 democratic representatives to 234 in the house of representatives. he is down here. pretty impressive for the republicans. by the way, when you combine the senate and house there are still a lot more republicans than capitol hill then there ar
in other words, a mandate to raise taxes hutton. tonight we want to take that mandate and put it into some context and perspective. this is the president's 2012 victory. but 50 -- and this is the mandate. forty-seven. the electoral votes, 3302. mesa more room here. romney's 206. that'simpressive. but there's something missing. seven and a half people. seven and a half million voters from 2008. he received and, and all right this over here, 53 percent of the vote to mccain's 46%. a little more...
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. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off their arms on camera? okay. -- (cheers and applause) >> stephen: as i said senior white house correspondent for abc news. the only news anybody watches any more. >> i think that's true. >> stephen: and you have got eye new book here called the outpost, an untold story of american valor. this is about the war in afghanistan. >> it's about one combat outpost in afghanistan, 14 miles from the pakistan border, built at the bottom of three very steep mountains, built in 2006. and overrun in 2009 by the taliban. >> stephen: let's put a picture of this space right here. >> that's it. >> stephen: the space is at the bottom not up
. >> trillions of dollars of spending cuts and tax increases that are going to happen when the ball drops on new year's eve unless president obama and congress come to some sort of compromise. >> stephen: all right so, we're all doomed. >> it's like the movie thaw you have to either cut off your arm or die. so they will come-- they will cut off their arm. >> stephen: do you know, do you know what kind of ratings the news could get if they could get politicians to cut off...
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the president wants higher taxes for the wealthy. and un ambassador susan rice went to capitol hill to meet with republican senators. she's high on the list to secretary of state. she's been under fire from senate republicans over the attac killed four americans, including u.s. ambassador chris stevens. today's meeting did not go well. >> we're doubled by many of the answers that we got. i'm more disturbed now than before. >> the republican senators stopped short of saying they'd block the nomination. they say they need more information and have more questions about the incident in benghazi. >> we're coming up on december to 1. that is the day mayans said the world would end. one scientist has been answering countless letters about the rumors. david morrison has a big job. >> iville lun teared to answer the questions the public sends in. >> some of the pivotal scientific questions of our time. >> these are questions about life in the universe. and that went along fine until fours years ago. suddenly i started getting questions about
the president wants higher taxes for the wealthy. and un ambassador susan rice went to capitol hill to meet with republican senators. she's high on the list to secretary of state. she's been under fire from senate republicans over the attac killed four americans, including u.s. ambassador chris stevens. today's meeting did not go well. >> we're doubled by many of the answers that we got. i'm more disturbed now than before. >> the republican senators stopped short of saying they'd...
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education tax credits and other credits for low income families. also, federal aid education, agriculture subsidies will be reduced if not eliminated, at least for the time being. between higher taxes and dramatic reductions, everyone, i mean everyone will fall over that fiscal cliff. >> you have two camps out there. some are saying let's push it to the end and don't move. other people are fearful that we will go over the cliff. so are we going to have an agreement? >> it's more clear than ever that both sides get it. i mean they understand the severity of the problem. it's equally clear near side wants to give more than they have to. they are likely the to reach an agreement, but not before the last possible moment. expect brinkmanship like you've never seen it before. >> that sounds menacing. i'm sure we're going to be talking about this cliff a lot more. >>> president obama wants to nominate un ambassador susan rice for secretary of state. that's the takeaway from a highly anticipated meeting between rice and john mccain and lind sai gram. they'
education tax credits and other credits for low income families. also, federal aid education, agriculture subsidies will be reduced if not eliminated, at least for the time being. between higher taxes and dramatic reductions, everyone, i mean everyone will fall over that fiscal cliff. >> you have two camps out there. some are saying let's push it to the end and don't move. other people are fearful that we will go over the cliff. so are we going to have an agreement? >> it's more...
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the fiscal cliff is a combination of tax hikes. democrats want to raise taxes on high income earners but republicans oppose the proposal. >>> stanford researchers say a high tech tool developed in the silican valley can help curve the growth of tuberculosis in prisons. the stanford researchers say the tool can be especially used in prisons in the former soviet union where they say tb is rampant among inmates. >>> the elevated breast cancer risk here in marin county turns out not to do so special. what researchers have discovered around the rest of the bay. >>> back here in 10 minutes we have a wind event coming tomorrow, we have rain coming tomorrow right on the morning commute. i'll time it out with the latest computer model. >>> attacking graffiti with heavier penalties. why a policy change to deter taggers can also hurt area businesses. >>> these lights are about to go up on high wire and it's going to impress the world. >> the pressure that caused a cruise line to back up on their ban of dressing in drag. when i take a picture
the fiscal cliff is a combination of tax hikes. democrats want to raise taxes on high income earners but republicans oppose the proposal. >>> stanford researchers say a high tech tool developed in the silican valley can help curve the growth of tuberculosis in prisons. the stanford researchers say the tool can be especially used in prisons in the former soviet union where they say tb is rampant among inmates. >>> the elevated breast cancer risk here in marin county turns out...
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tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put it back in gear. and there are many reasons beyond just employment and the opportunities that family have -- families have to make it. one of the critical elements in all of this is to protect americans. we recently saw superstorm san joaquin smash into -- sandy smash into new jersey and new york with devastating results. loss of life, incredible loss of property, both public and private, and a very, very big cleanup bill. joining me in a little while will be some of our representatives from the state of new york. and
tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put...
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how about taxes? when i tell people that obama wants to lower corporate taxes they don't believe me. listen to obama and see if you can tell what he wants to do. >> we have one of the highest corporate tax rates in the world, but it's riddled with exceptions and special interest loopholes. we can lower the corporate rate if we get rid of all these specials rates. >> not increase, lower the corporate rated. he's saying it. you just don't want to listen to it. ok? he is conservative. he's a blue dog. he wants to do the same plan the republicans want to do, just a little lighter. so what's on the -- what do we know about this grand bargain and what's still on the block? first of all cutting medicare. unquestionably, no question, it has been offered in every single deal, it is offered up now, dick durbin is still talking about how they call it reform. they're cutting it, cutting it, cutting medicaid, unquestionably, that has been offered every single time and they'll cut it. they are going to lower corpor
how about taxes? when i tell people that obama wants to lower corporate taxes they don't believe me. listen to obama and see if you can tell what he wants to do. >> we have one of the highest corporate tax rates in the world, but it's riddled with exceptions and special interest loopholes. we can lower the corporate rate if we get rid of all these specials rates. >> not increase, lower the corporate rated. he's saying it. you just don't want to listen to it. ok? he is conservative....